Government releases Rs 17,000 crore GST compensation to states
The total amount of compensation released to the States and UTs so far, including the aforesaid amount, during the year 2022-23 is Rs.1,15,662 crore.
The total amount of compensation released to the States and UTs so far, including the aforesaid amount, during the year 2022-23 is Rs.1,15,662 crore.
Rajasthan Chief Minister Ashok Gehlot has demanded the Central Government to extend the period of GST compensation period from June 2022 to June 2027.
The decision has been taken despite the fact that only about Rs.25,000 crore is available in the GST Compensation Fund. The balance is being released by the Centre from its own resources pending collection of cess.
The government finances are also on sound footing this year and the impact of the second wave in activity and tax collections has been rather muted.
Amarinder reiterated his govt's stand that agriculture is a state subject and law-making on it should be left to the states
Seventeen rounds of borrowings have been completed so far starting from 23rd October, 2020.
Amount of Rs 4,597.16 crore has been released to 23 states and an amount of Rs 402.84 crore has been released to 3 Union Territories.
This led to an overstatement of revenue receipts and understatement of fiscal deficit for the year.
The traction will be for Centre's refusal to pay the state it's dues on GST on which the Opposition has decided to join the dissenting voices of Treasury benches.
This is a travesty and an abrogation of the fundamental basis on which the states gave up 70 per cent of their taxing powers, including the entire VAT regime, to usher in the GST regime
